1099 Information Reporting & Matching

As we approach the close of 2020, it is time to plan for year-end reporting.  One of the main year-end reporting items that can be time consuming, and comes with stiff penalties if not done properly, is 1099 reporting.

Things You Should Know About Cost Segregation 

Cost Segregation is a helpful method that will:

  • INCREASE a business owner’s cash flows and,

  • DECREASE their taxable income. 


HERE’S HOW:   

Approaching Texas Annual Report and Franchise Tax Report Deadline

If you are an individual who submits their own Texas Annual Report and Franchise Tax Report, it is possible that you may not get a paper notice of the upcoming due date this year.

Newly Announced Forms and Rules for PPP

We are aware that many of our clients are interested in applying for the second round of PPP. As such, we want to provide you with several important updates regarding the new requirements attached to the legislation.

Tax Deductions for Meals

The IRS has provided guidance on deductions for meals as a part of changes in the Consolidated Appropriations Act (CAA).

American Rescue Plan Act Highlights

Signed into law on March 11, 2021, the American Rescue Plan Act (ARPA) contains several tax provisions affecting individuals and families.

Child Tax Credit Expansion

Payments

In March of this year, Congress increased the maximum credit amount that families could receive per child.